Ask HN: Next step in creating a hardware startup?
I've got a bit of a project / POC, that I want to get out the door, and I'm trying to figure out what is the best way forward to get an initial investment amount.
TLDR: Had a prototype product that people were interested in, I've got enough promise to suggest it might be good, but i don't want to get burned by HW costs. How do i get the sale first?
Backstory::
I used to work in a retail electronics store that sold electrical fittings, many of which are just sold in tubs. people will get what they want and bring it to the counter by the handful, which the salesperson has to identify and put into the POS system.
Due to the nature of the products and how varied they are, this often takes a long time to figure out, and staff rotate too quickly for any individual to have a solid eye for identification (of what the part does, let alone the product numbers).
I developed a little "part identifier" project (webcam, rpi, AI, whole shebang) that worked remarkedly well. Potenial to save hundreds of hours of time each week and be an cool point of interest for the store.
I showed it to a few people, managers, etc, everyone loved it, but as i was an employee of the company, they believed that i should work on it for free and give it to them.
They also had a very "don't rock the boat" mindset, so no one wanted to show any CxO unless it was a finished product, can handle a beating, and so on (their words). Basically an impossibility for a prototype that i spent a few weekends on.
Now::
Now, I've moved on (no longer an employee) and the leadership has changed significantly. All C-levels have been replaced or removed, and the company is taking a more "innovative" and positive to change, even some of the managers have changed. ( I've still got some friends in the company that share what's going on -- totally different vibe now.)
I'm wondering, if i were to come in as an outsider now, and present the same product -- given that it seems to show a bit of promise, how is the best way to go about it?
It's still just a prototype, so I'll be on my own and will have to find someone to do some more HW design for me (or i try and do it myself which will be inefficient). What is the first step in bootstrapping this? could I get enough information to seek investment or a loan?
Some random thoughts:
* sketch up some designs what the finished product could look like.
* Make a flashy website with the concept art and what it does.
* do some rough figures for HW and SW cost. Multiply by 4 and add margin for unit price.
* Wrap it up in some attractive, roll-out package.
* Get some verified numbers on why it's useful for TARGET_COMPANY, how much it could save the company in X amount, etc.
* Try and get a chance to present, (concept, package, prototype videos) - to the new CEO / leadership team.
* Make a second prototype to demo in person ? (original prototype is destroyed)
Ideally I want a bit of cash first to fund the production of the product, I don't want to put my own money into what could be a flakey business agreement. With atleast one customer I would then have verified the product to adapt and take it elsewhere